50-Year-Old Is Choosing To Die In Poverty | Financial Audit

my name is Clark Gables. um 50 years old I'm from San Antonio. Texas and this is a financial audit. thanks for coming up from San Antonio I. really appreciate it uh what do you do. for a living in San Antonio Texas. um at the moment I'm a stalker at a. convenience store Valero's pretty much. downtown. oh gotcha so in downtown San Antonio. you're just restocking themselves yeah. it's an easy job you know do you like it. yeah it's good what are you bringing in.

from this position. um well on a yearly basis uh 1200 or 12. 000 dollars. so it's not you know it's not great. I well I mean right off the bat I'll. just ask how are you surviving on twelve. thousand dollars. um. well at the moment I'm living with my. mom in her house uh how's your mom she's. 50 no I'm sorry 80 years old 83 years. old actually uh she's crippled so I'm.

pretty much her caretaker yeah uh and. you know the the job pretty much is Just. supplemental income. um. I do get paid uh for to be a caretaker. so really how much you paid for that. about 800 bucks a month oh it's it's. base minimum so of your twelve thousand. dollars that was not included no that. was not included 800 bucks so an. additional nine thousand six hundred.

dollars a month yeah yeah or a year. sorry I didn't no totally chill so. you're bringing in like 22 000 a year. total roughly about twenty two thousand. I assume rent is free because you're. living at home no I pay 400 bucks a. month you know but you're the caretaker. yeah so half of what you. yeah it goes okay yeah I mean but you. know my mama's boy and when she says go. I know but I think like an in-home. caretaker wouldn't have to pay to be an. in-home caretaker but either way I get.

it and you know hopefully that's helping. uh her in some way still 22 000 a year. and you know living at home at 50. um. what got us to this place I want to know. about your financial situation where. what are we looking at today. well as far as the financials yeah my. debts yeah it's just your dad's and just. you know how you got here well. uh because there are debts yeah yeah.

um. what got me here well let's just start. off uh I'm type one diabetic oh and I've. lost a couple of jobs because of that. really yeah there's no discrimination. protection against that there is I'm. sure uh. and you know people have asked me why. don't you you know counter counter suit. you know I mean. they they pretty much kicked your butt. out of the job because you know you got. a disability or are you diabetic but you.

know at the jobs that I have lost. because of that are just you know there. are people that I've known for years and. you know I I kind of. I understand where they're coming from. well what's like give me a reason that. someone would have let you go for the. the diabetes uh well one example uh. the recent job I lost because of it is I. was uh cashiering at a store. and you know being a type 1 diabetic you.

you get you have a tendency to go into. blackouts if your blood sugar is too low. so I was cashiering and you know it was. a it's a it's a fairly busy store we get. tons of customers all the time so I had. a line going back to the beer cooler. Friday night you know everybody's got to. get their Brew. uh and I just blacked out right there at. the cash register and. uh my boss the owner of the place she's. got a camera like right behind the cash.

register and she's always aware of. what's going on in your store so. basically. um I woke up and the other cashier That. was supposed to come in at about two. hours after me or later she was there. yeah and she's like hey Clark uh yeah. Zara called us and you know we need you. go home. so went home uh but the next day Zara. called me back said Clark I I can't. allow you to work here anymore if you're.

gonna you know that was the second. blackout I'd had at that job. so she you know she had to let me go. so you know I've had several jobs like. that that have happened what's going to. prevent that from happening in stock. your shelves. uh this job I got right now it's pretty. much safe uh the guys that I work with. they know my situation the others didn't. they did but they were just you know. they were looking out for themselves you. know they had to I guess yeah just to.

play skeptic I mean we're. or Devil's Advocate at least on behalf. of the business. um. were you good at your job yeah it was it. like you know just an excuse that they. just were ready to look for a new yeah. no I was good at my job okay uh. you know as far as I know I mean never. had any complaints from the boss or the. customers so yeah so you lost. the positions and probably in a way that. I don't think is legally correct but.

um I could be wrong on that. so you just ended up all the different. cards terrible cards by the way yeah you. just started putting all your bills on. them yeah. I got those cards starting in. 2021 mid 2021 this isn't very long ago. okay yeah so uh at that particular point. I had lost a job uh. I think at Circle K and.

you know I. I just started like for this the Capital. One which was five thousand dollars yeah. the bad and I'm like you know you know. money to burn right. so I got that and then after that I got. another credit card for Aspire I believe. which was two thousand dollars. and then several other I think three. more credit cards what's your mindset on. money so clearly you're obviously not a. credit card person no uh but uh like.

where where does why were you like okay. this is money to burn or what's your. mindset on money my dude well. um. I mean you know I knew it wasn't money. burner you know and initially I was. paying those credit card bills. uh but you know I I was tired of losing. my job. jobs. because of my condition have you talked. to a lawyer some people would do this. you know based on uh you know their.

they'll do payment upon winning yeah I. uh I haven't no I bet there's people. just like salivating at the mouth. hearing the story from a legal. perspective yeah. um well you know this could also be my. ignorance on type 1 diabetes absolutely. I'm not overly informed on that so. definitely inform me here uh.

how active and preventative were you in. tracking your blood sugar levels uh just. to make sure you did not black out no I. I do I track my blood sugar uh. consistently you know in between each. meals in the morning at night. it's just. um I am what is referred to. as a severe type one diabetic my blood. sugar is like a roller coaster goes up. and down you know I understand it might.

be pretty expensive because again this. is that's not a part of the life that. I'm a part of but isn't there something. that you can like always have in you at. all times that's monitoring yeah. probably expensive they are expensive. even with the insurance I have that's. to to maintain that prescription it's. about a thousand dollars uh. every time I have to. re-re and you know prescribe what do you. do you just pricken a prick yeah and I. do pins which is you know also in.

themselves they're pretty expensive but. my insurance covers those good well okay. I'm gonna ask one more question before. we go into all this there's nothing. wrong with the positions you're working. I'm just. I want to know your career perspective. and stuff throughout life. I don't think this might come officer. but I don't think a lot of people. Envision themselves when they're like. graduating high school or something like. that being in their 50s and working uh. cashier positions at a grocery store so.

what has happened through your career. what what were you trying to do and why. are we where we are now because I. certainly want you to make more than. twelve thousand dollars a year yeah like. yeah well. um I mean yeah of course no one uh sees. himself getting into my position I'm. sure no I I I got a good degree uh you. have a degree in 97 really and what uh. Associates of uh Horticulture uh applied. science interesting uh and you know I I.

did get good work with that degree I I. was working. here in Barton Springs Nursery for about. eight years and making good money there. but. um what happened how how have you gone. from you know making a good money in a. potential career position to well we. moved see my mom wait why'd you have to. be with your mom at that point. I was just you know I was making money. but I wasn't making enough to even make.

us it's Austin you know uh yeah but. Austin Austin's done its big spike in. cost of living over like the past decade. decade and a half yeah like. statistically speaking when you go look. at the graph so if this was in the 90s. early 2000s this was this was uh 2008. yeah it's whenever I just didn't I. didn't I didn't uh apply myself to go. look for a job according to my degree. until you know okay later on. um have you been living with mom like.

forever yeah. pretty much oh I mean not forever you. know I've lived in different places in. Texas but uh but initially yeah well I I. respect the the situation right now with. the caregiving situation but from before. why don't you think you've been. self-sufficient throughout life what. have you been prioritizing instead of. that uh prioritizing more or less having. a good time. you know is that what you spent your. debt on. uh no no that that dead came much later.

uh that that's recent debt I haven't had. a credit card until uh recently until 20. but you're just choosing fun and both. over having your own place and living. your own life and I'm guessing there's. nothing in retirement is there no no. that terrifies me 50 are you getting. does your mom own her house yes is she. gonna give it to you all right. I don't know do you think she's gonna. give it to you do you have siblings I'm. I'm fairly certain yeah well I do have. siblings but they have their own places. and and is there a mortgage on this.

house it's paid for oh. at least you'll have a place to live. yeah property taxes in Texas we have. death property taxes so you still got to. come up with that man I don't want you. to get your house you think you can. bring it you think you can do five. thousand dollars a year well you know I. have I'm hoping you should be able to. yeah I mean five thousand dollars a year. at least yeah you have a looking. historically for yourself do you think. you're gonna make those payments plus. utilities on top of that on everything. yeah I hope so you better because if you.

don't you're gonna get into a much more. expensive situation that you'll be. forced to be in so we have our first. premier card you were. on you haven't spent money on here 923. is the previous balance eight dollars of. fees charged so this is one of those. stupid ones with stupid minimum monthly. fees plus interest charge of 28.63 New. Balance 959 dollars but this this is the. kicker my dude you're gonna kill me with.

this immediately past due amount of 269. dollars and over the credit limit. of 259 yeah. yeah I don't even see how I got over the. credit limit on that one I mean well. because you weren't making your payments. so all these extra past due amounts. extra fees or just being added on top of. it. that's actually one of the cards that I. initially started paying on but let's.

just stop paying. uh why why'd you stop painting dude. because I mean this is money that you've. spent this was you being an adult saying. I'm an adult here's a credit card here's. a contract I signed here's the money I'm. gonna spend and then you're like. why. uh just you know not enough funds not. enough money in the bank uh. so why aren't you trying to go work more. hours somewhere like I understand you. lost the position and from the situation. that I'm hearing from your side it.

sounds like. like crap that should not have happened. but even still I feel like we especially. in these last couple years where those. Industries have had such a demand for. workers you should have been able to. find something and then you could have. worked many more hours a week than you. do yeah actually. um I I I tried getting jobs in San. Antonio in the Horticulture business. um no no even I don't even care about. that part like that's awesome if you. could have done that that's fantastic.

and I'd still love you too but in terms. of just go work in another gas station. and then go work in another gas station. then go work in another gas station. stock the Walmart shelves yeah you know. anything I know. yeah why don't you go get those jobs and. work like 40 hours a week at least to. start making payments on this because. you're spending 400 a month on rent. which is in terms of major cities yeah. nothing nothing yeah well you know I. plan to. uh pay it off somehow.

um. I just really haven't uh. haven't planned this far ahead yet I'm I. mean you know well that's not a plan. that's not a plan to pay it off then if. you have no plan yeah. um. do you just not care I do care and I. don't care. well what's the don't don't care is well. you know I really don't see what.

credit history with me is gonna. bring to the table later on uh I mean I. do know that it's important uh keep good. credit and to keep a good credit score. well that's just that but what about the. morality aspect of it this is money that. you borrowed and signed a contract. saying you'd pay back yeah that's. that's conundrum right there you got me. there uh you know I. I I to tell you the truth.

uh I look at it I don't I don't have any. faces to look at and say I'm sorry you. know it's kind of a faceless. [Music]. you're just handing out yeah it's a. major company and it's a one two for. having these extra fees on a monthly. basis just to have a credit card that's. not what credit card should be about. like it's clearly preying on people who. are in lower income situations in. Desperate situations I hate that I am. yeah but I do not also on the other side. support support not paying them yeah I.

mean just personal responsibility dude. on yourself right. trust me I I probably hate this company. more than you hate them. I have no feeling for him whatsoever. really I'm you know like I said. initially I was paying my payments. but then when did you just decide we're. not paying payments because this is one. out of a stack of credit cards you have. not touched in a while. uh probably when I.

lost my second job how long ago was that. that was. uh 20 22. you haven't been paying on. these for a year yeah. okay it's been a while then we have a. Credit One. previous balance 534 fees charge 39. interest turns 11 hours 47 cents has to. amount 180 dollars.

plus amount due this period 69 but. minimum monthly payment due 249 by the. way and the last one was 596 because of. your payments these minimum monthly. payments dude are by the way all gonna. stack up to two thousand dollars which. what that's exactly the amount of money. you bring in you know pre-tax no that's. that's more than the amount of money you. bring in because I'm bad at math. apparently. so you can't even pay that you can't. even pay the minimum monthly right now. yeah yeah I I do have a question.

sure okay once they have. sold their debt into the oh I'm sorry. once they've sold they're dead. to a collection agency those interest. rates still apply is that still I mean. it stops at that point right well let's. take a look at your credit after we get. through these and we'll take a look at. everything and see where everything. stands okay and then I'll definitely be. able to answer some questions on that. ever everyone always asks me what. checking account I use and what high. yield savings account I use recently I.

switched over to Sofi the reason I did. it is because their app is very. intuitive and it's super easy to use on. your computer as well but even better. than that their high yield savings. account is all the way up to 4.4 percent. at the time of recording this clip that. is so hard to beat and I am taking. advantage of that all day and not only. that but there's additional bonuses that. I took advantage of that you can as well. set up direct deposit get a 50 bonus are. all the way up to 250 dollars that's. free money that's free money I took it.

you could take it too so check out my. affiliate Link in the description below. it's seriously awesome I use it each and. every day for my banking needs and then. on this one Aspire you said this was one. of your first ones that you opened. didn't you yes that's the second credit. card I got I think it was in 2021 also. I mean uh I am I am getting work. um aside from just you know my my normal. job okay what uh I I am getting.

um acting positions that. are going to pay considerably well so uh. they're confirmed contracts signed no uh. audition there's a massive strike. happening from writers and actors right. now yeah well these are like just. small uh Parts in different things you. know social media commercials and. uh audio commercials stuff like that.

um. you know it's it. you know nothing extracted what are you. getting paid and how much and how often. uh there's one uh that is. coming up. and I actually I haven't got the part. yet I'm still auditioning for the part. um we can't rely on that but go ahead. but yeah I mean you asked me if uh I had. a plan you know.

um you know. I mean the the position I'm looking or. looking at the gig that I'm looking at. it's going to be pay about two thousand. roughly after costs. well that'll help pay this one off. because it's two thousand three hundred. sixty dollars but you have to make it. like how far are you in the audition. process right now I'm waiting for a call. back. I've already had the initial audition. this is a singular okay then I'm not. even gonna come close to realign on that.

I hope you get it sure yeah I hope you. get it but well I'm realistic you know. I've just well I I would like to get. another job. um so that I can start paying off my. credit cards but like like I said. earlier I'm a caregiver as well as. working. uh full-time what's her financial. position your mom uh she's retired. um she gets probably you know under two. thousand dollars a month for.

um. payments but uh I mean this is why I'm. on people who have kids especially are. planning on having kids to really buckle. down and prepare themselves for their. later years because now because she's. not going to be able to afford a. caretaker and even the caretakers that. would be provided from you know any kind. of uh. government assistance it's probably not. what we're looking for at this moment. it's putting you in a burdensome. position I think you can work more to be.

very clear yeah I mean if I can I would. work more but like I said you can't I no. I can't because of my situation that's. why I get around people to. and as far as uh her getting a caregiver. through you know some sort of how many. hours a week do you need to be there. with her uh. well I'm there every day uh you know. what do you how many hours a day do you. need to be there need to be there. uh probably about three hours a day.

three or four hours about four hours a. day you know at the end in the morning. and at night. two hours during the day in the morning. and two hours a night because I put her. to bed I get her up. you know get the wheels moving if you. want to get the wheels moving on this. channel make sure to hit the Subscribe. button we're trying to get to 750 000. subscribers and thank you to everyone. who has subscribed sorry I forgot to. throw that in so I had to throw that in. okay. so a few a couple hours in the morning. couple hours in the evening yeah.

essentially. work every single day. during that time that is in between the. morning and the evening right yeah right. I don't have enough time thing is not. true well I do work every day I mean I. have like what's your hourly pay you're. bringing in 12 000 a year. um nine bucks an hour pretty. you can get more than that yeah I can I. know for a fact right now I'm working. for a mom and pop shop you know they off. the mom the pop go make money I don't.

give a what if they're not paying you. what you need to be making then we go. get another job and trust me when I'm. telling you that those positions are. still trying to hire my dude yeah that's. the American Consumer is spending their. money they're out they're traveling. they're uh doing experience things and a. lot that does also involve restaurants. it involves traveling which involves gas. stations and stuff like that that's. where people are spending their money. right now and that is an industry that. is still pretty desperate hire has not. fully caught up to pre-pandemic levels.

yeah I I'm actually looking I've I've. filled out an application in a couple of. places that are it's kind of one it's. only a couple places an hour that you're. filling out applications. yeah uh one one place uh they're hiring. a cook for 19 an hour so. that's exactly what to look for are you. qualified for that yeah I mean I've. cooked in restaurants since I was 14. so. yeah. um but yeah I uh that sounds like a.

dangerous position for potential. blacking out over grills and friars and. yeah. and you should have blacked out before. and restaurant work are you sure that. makes sense for you to do like I want. you to make more money but I also your. safety comes first of course there's no. point in making money if you're not safe. yeah. well I mean uh my options. where I'm living right now are kind of. limited I mean I got uh. I mean you're you're right now you're.

working downtown of a top 10 population. city in the United States. shouldn't if you're able to be in the. downtown location I'm gonna have a hard. time accepting the limited with where. you are yeah that's. well I mean are you an excuse maker do. you just make excuses for everything. yeah pretty much why well I'm glad we at. least know this and I'm glad you're. acknowledging this why I mean we gotta. and like your life matters right yeah do. you want to be able to retire I mean you.

might have the home part of retirement. sounds like she doesn't have any money. to pass on she's bringing 2 000 a month. less than yeah. Social Security who knows like by the. time you're retired you know kids like. okay I'm gonna be completely honest it's. a saying I use in the show and. essentially means working until you die. you're gonna die on the Walmart floor or. in this in this situation you're gonna. be dying on the gas station floor when. you're 80s in your 80s or whatever. however long you live in hopefully you. live a nice long life of course but.

you're gonna be working just so you can. pay the property taxes on this home like. you're going to have your living. situation pretty much taken care of but. it's still very expensive and property. taxes are only going to go up because. it's Texas and they love to tax us a. very high tax state people think it's. low tax but it's not and. um you're just gonna be absolutely. working forever my dude is that what you. want or are we going to keep making. excuses and that's what we're going to. end up or are we going to like buckle. down and like okay let's actually do.

something with the second half of our. life let's just say 50 is your halfway. point okay let's be optimistic we're. gonna make it to that triple digit whoa. it's the second half of the work career. that you live do you want it to be the. same as the first half no definitely not. I mean then excuses need to stop we're. done with excuses no more excuses no. then on this card again late payments. past due 205 amount over credit limit. 157 41 minimum monthly payment but.

what's up right now is 246. actually 400. no. well two of 246 is the minimum deal but. your New Balances. 457 now you know so that's right correct. limit 300 I mean I looked over those. credit card statements and I you know I. was. uh. I was you know. I was like how could I have done that. but. you know and this at that particular.

point in my life I was just I really. didn't care do you care now this isn't. that long ago my dude yeah in the grand. scheme of life this is not even close. till that long ago no this one was six. months ago well now we're looking at now. the Capital One to be completely honest. I really I really didn't give I didn't. care I didn't thought but but do you now. yeah because I had a conversation with. uh one of the guys I'm working with now. uh he's a cashier at the store I work at. and. you know as far as he's a smart guy he's.

like dude you got you gotta think about. your future and this credit history is. gonna affect you it can affect you don't. even give us for some credit history. well I mean I mean I'm I'm talking about. like the the score and he's like what if. I need to get a loan later on in life uh. your credit's gonna be shot yeah no it's. true. um oh well you drove here in a car who. owns that car. uh my mom what happens if that car. breaks.

uh I got to get a job close by walking. distance okay yeah cause you couldn't. borrow to get a car and you certainly. don't have money to save that do you. have anything in savings I do I have 25. bucks 25 dollars. okay. so we don't have anything in savings so. we also need to have an emergency fund. that'll help take care of things with. cars I want to get you in a situation. where okay I might have to take out a. loan in the future no we don't even have. to think about that because hopefully. you're gonna get the house other than a. mortgage I don't want you to be in any.

more debt in your situation because. you're not a debt person you have made. this clear now this one's death we have. another cap one. that's the big one that's the big one of. five thousand. two hundred nine dollars 52 cents credit. limit of 5 000 so we're over that new. interest charge of course 17.20 cents. minimum monthly payments 573 because you. are not making payments so that's just. what's due because you're passed through. like a billion trillion dollars so.

that's not even the point then I don't. even having a checking account here dude. so I don't even know what a checking. account looks like you have a app for. your checking account yeah I do can you. pull it up yeah. we won't be able to share it on screen I. apologize but um. let's take a little peek. [Music]. by the way what's owed right now is. 2127.76. right now as a payment as a payment. let's do it right now I actually attire.

because a lot of these statements are. quite old at this point and totaled that. 989 824 in credit card debt uh which are. still crewing it's probably over ten. eleven thousand dollars at this point. who even knows really well we'll know. we'll know we're gonna take a look and. trust me I'll get you there. like I was saying I I thought initially. whenever they went to a collection. agency that that interest rates just. stopped but I guess well we'll look at. what's actually made it into class oh.

you have actually thirteen dollars yeah. I forgot about the Red Bulls I bought. this morning. why the are you possibly getting. red bulls with 13 in your checking. account no possibly is Red Bull more. important than your survival what. happens if you have to get gas I'm. giving him gas money what happens if you. get gas without. me giving you gas money yeah well I mean. I I filled up on for for the trip up.

here and hopefully have enough back what. happens if you get a flat tire. AAA. what happens. what happens what happens if anything. happens 13 but you've chosen Red Bull. what's voodoo.com. oh that's a movie app dude you're. spending every single second of your. life there spent five dollars out of. five dollars or seven dollars there. you're spending so much on this money. you don't even have it all.

I like movies gee public that's awesome. that's fantastic that's great go do. Redbox for a dollar. yeah I didn't even know they had red. boxes anymore also. you like you love movies yes yeah okay I. love the remainder of your life not. dying on the Walmart floor and I choose. that over movies any and every day. Macy's and T public uh what are you. getting at Walmart be honest with me. what are you getting at Walmart because. you're going to HEB I see that's. probably for the groceries what are you.

getting at Walmart uh just you know. everything. besides groceries household products. yeah okay three hundred forty dollars. taken out from an ATM I don't know where. that went Circle K four dollars 21 cents. so we're getting some taquitos we need. to be doing that instead of being alive. the 349 I I'm not really oh uh that that. went towards rent actually. that was.

my share of the rent how loose it is. your mom uh she's pretty Lucid I mean we. should have a conversation about this. rent situation yeah. uh I mean she's actually. pretty lackadaisical about it you know. she I mean I give her I give her 400 a. month and she's like ah you don't need. to give me this much money. please do not give it to her please. because you don't have money because all. these purchases would just look that you. wouldn't even be able to afford if you. didn't get your 730 of tax refund back.

yeah that would not have happened that. wouldn't have even been close to it. monthly maintenance fee 12 monthly. maintenance fee 12 monthly maintenance. fee twelve dollars that that part I. really don't I mean I understand that. they have to have a maintenance fee but. ATM taking out ten dollars sunnies ice. cream yeah we need to be doing that I. live by the seat of my pants I guess. which is bad I know.

you live by the just. your yourself too yourself. you know I I do I do have. um plans to dig myself out of this hole. okay go ahead what's your plan what's. this what's this grand scheme that we. have going on well like I said I I I did. have a job offer for that 19 an hour. position job offer you said you applied. to drop life I'm sorry I I had the offer.

I got the offer actually yeah absolutely. let's go let's go all day absolutely. good job by the way thank you good job. and congratulations I just uh. um you know it's it's getting here to. there that's the thing you know I gotta. it's it's a it's a lot more hours than. um that I've got right now and I need. somebody there to take care of her my. mom. and yeah but you said for like an hour.

and a half in the morning hour and a. half in the evening yeah. uh now I know restaurants they can go. late restaurants can go late dinner. typically when you're like a line cook. and stuff like that yes you could have a. lunch job but you know what kind of. restaurant is it it's it's a it's a. Cheesecake Factory yeah that can go yeah. Cheesecake Factory. is pretty much no actually you're right. 11 o'clock when they close so I I'm. looking to be there for close down. afterwards for a bit Yeah breaking down.

two hours yeah. um. yeah it's just I mean you know I'm I. mean I've taken care of my mom for so. long I don't know. if anybody you know I am if anybody else. can do it no I get that and trust me I. really do respect that let me make that. clear I love that you're doing that you. know I'm. parents get old at some point and I. think we all hope that we are in a. position where we can care for them in.

one way or another to make their lives. as great as possible so I'm not against. that yeah I'm just trying to find. solutions that also show that your life. matters the remainder of your life. it needs to matter or else there's. really not much we live in a very money. driven Society we do and whether or not. people agree with if we should or not. doesn't matter in the context it's the. context of this show is helping you at. least survive in it and right now. you're not only surviving you're you're.

not surviving you're like falling. drastically behind yeah. well I mean you know uh like I said. we're checking into getting things done. like you know my mom's got good. insurance so she's. planning on getting in here in home care. from somebody else private insurance or. Medicaid Medicare she's got Edna. Medicare Medicaid Medicare and it. [Music]. it covers the um in-house care Medicaid.

does okay so we are getting there we're. getting you know when does that start. how long has this been pursued so uh. well I mean you know we've been looking. into it now for about two weeks so. hopefully in another week or so. um well yeah and then you're working. every single second of your life at. Cheesecake Factory that they allow you. to work every single second there's not. a second that you are not sniffing that. cheesecake you're all on it my dude yeah. you're on it and you're serving up that.

fried calamari that I'll come down there. in order and it'll be great but 19 an. hour that's awesome that's a big jump up. and that's more that's eleven dollars. more than you make it now right or ten. dollars I forgot if I said eight or nine. ten dollars okay that's awesome that's. great and then yeah you can still take. care of your mother in the morning but. maybe you won't even have to maybe you. can go get a morning shift at a diner or. something I don't know we just need to. work now right now. to be very clear I'm nervous so we're.

going to create a plan but right now I. need you to download an app called. Credit Karma okay and then we are going. to take a look at collections where. things stand and I'll actually be able. to answer your questions and we can put. together the game plan and make sure. that your life and future actually. exists once you leave this studio. okay and the credit score. 81. that's bad is that bad that's so bad. oh my goodness.

that's really bad okay so but let's see. what's going on. it's because. the good news is all the credit cards. have been closed by the company they're. not allowing you to spend on them. anymore yeah they're being. uh only two of them have gone to. collections so yes interest is occurring. on the majority of these really yeah. so you're still getting absolutely. and I I don't even know the interest I I. mean I've. figured out the interest rate I think.

for Capital One it was 29 percent. yeah they're all probably right around. there variable with where interest rates. are now so yeah we have one in. collections 457. that was the Visa so let me Mark that as. in collections so visas and collections. and then 636. my best guess no someone's trying to. call you and I do not accept that. uh I'm guessing credit ones also in.

collections because that's the closest. to that balance that makes sense First. Premier Bank okay 9.96 so it's gone up. for 9.59 that we saw that one's still in. collections and that's not in. collections that's a crucial still. interesting yeah no that's absolutely. diddling you diddling you uh Capital One. well some of them the balances are. questionable maybe they're getting sold. off the questions I'm not 100 sure and. then one Capital One that balance when. I'm from 5200 to 209 yeah looks like.

that one's kind of stuff to 5227 so. all these are in like really weird. situations right now. I think a lot of these are being sold. off. I think a lot of these are being sold. off. because interest is accruing on some but. not others yeah I believe like the. chapter one last time I looked at one of. the statements there was no insurance or. there was no interest fee uh it was zero.

so I'm assuming that one probably went. to a collection agency so. [Music]. in collections as of least right now the. oldest one being at the end of last year. so like seven months ago. if we wait for these to fall off your. credit man it's gonna take seven years. seven years from now most of those going. into the collections are going to start. fresh what are we gonna do are we are we. waiting seven years for you to improve. your life is that what we're doing or. what do you think. yeah what are you actually willing to do.

like because. what I would do what are you actually. willing to do where are you in where do. you want to be what are you willing to. sacrifice what are you willing to do. well I mean I. I definitely need another job. that's for sure yeah but are you willing. to budget and actually buckle down and. like be full adult and pay the off. that you owe yeah I mean I am I I do. want to pay it off uh.

it's just like I haven't uh seen a an. angle yet or an opportunity to start. paying it off yeah but you've prevented. yourself from that you've prioritized. that we just went through it you rented. like a thousand trillion movies and then. got food within taquitos with them. you've chosen taquitos and movie rentals. over your future and paying back what. you've borrowed. even if the bank that you borrowed from. some of them being complete pieces of.

still did it you still actively chose to. do it and to yourself own self-admission. spent it all on crap that doesn't even. matter it didn't benefit you in any way. other than some dopamine hits yeah well. I mean I actually bought tools for the. house we needed and. um. actually did some. uh fixing uh fixing stuff in the house. with that. you know we need a new water heater. we weren't getting any hot water uh.

so yeah there were stuff that actually. uh needed well you're the one who said. it was fun on board so that's what. that's what I'm going off of I did Spin. A lot of it on both. yeah so like what can I do here what can. I do can I if I lay out a budget will. you follow it like what do you you say. you care you have plans your plans is. hopefully you get a 2 000 acting gig and. that can help pay for some of this and. no I I mean I'm a rational person you. know I realize that you know some of.

that's. maybe might not ever happen uh but yeah. I do want to pay this off I just want is. only go so far though are you willing to. sacrifice yeah are you willing to cut. back in your finding and. excuses yeah yes then what I would do. man no no more paying rent you're a. caretaker that's in assumed as a part of. your duties well actually because we're. about to bring on a caretaker through.

Medicare right so yeah. okay. a conversation with mom is gonna happen. mom. I done up whoopsie I've just. booked my entire life I'm not gonna have. a single sense to retire if I continue. down this road and I'm. and pretty much until I'm 60 there's my. current score is going to be in the low. 400s at that point in time 60 when this. stuff starts to fall off which I mean.

again what makes me nervous is the way. you're living your life is if that car. breaks you have no choice but to get a. loan for a car and getting any kind of. loan if you're lucky in your situation. with your credit that car is going to be. the most predatory mother loan that's. ever existed. it's gonna be terrible it's gonna just. bees yeah. and you're gonna stretch it to like 80. something months and it's gonna be like. 30 Death. interest and this is gonna rake your. cost of Kohl's is constant whatever.

that's what I'm nervous about. what we need to do. mama I don't up please allow me. to not pay rent temporarily so all my. incomes can go to cleaning up my sh yeah. and start improving my life to make sure. that. I want to take a brief moment to thank. today's video sponsor Aura are you sick. and tired just like me and everyone else. honestly of receiving endless spam calls. every day I mean look at this let me.

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episode when I am in the same position. as you when who knows what. Social Security will look like at that. point I can at least survive. because my goal is getting you to a. place of survival right now usually I. try to get people this the place of. thriving I just want to get you to the. place of survival you're not even there. no 12 in checking account and mind you. that wouldn't even be there if it wasn't. for that tax refund that you got is. there a scenario where I could.

consolidate all my credit card uh my. credit and pay one fee you know. potentially again it looks like they're. all kind of being sold off in. collections and so in that situation. the companies that. you can work with to help with. collections are all kinds and it's not. that's not a path I want you to go down. because they're like yeah what we're. going to do is negotiate on behalf and. you're going to pay us a big fee or. they're like yeah you're gonna let it. fall off in seven years and your. credit's gonna be for seven years.

so if we have this conversation. six seven eight months ago yes we could. have talked about a consolidation and. that's where things like I'm good with. personal alums and stuff like that and. I've partnered with some people that you. know actually work on them. um because. though I'm not like let's ever I'm never. like let's take a high interest person. alone or anything like that but if we. can take out a fixed rate personal loan.

that's like 15 that's half of your 30. that takes care of the credit I'm all. for that but we just I don't know if we. can do that now I don't I honestly don't. know. I need your budget I mean okay how much. do you spend on gas uh about. thirty dollars every week. really. 120 bucks a month yeah. car insurance. seventy dollars every month that's good. how many miles on that thing and what is.

the car uh roughly it's probably about. 230. 000 miles that's the car it's a Dodge. Caravan 2003. yeah it's a it's a beast. it's sold is this gonna last you till we. can get you a fully funded emergency. fund. uh well you know I mean we've put a lot. of money into it so yeah hopefully. um sure I'm sure it's got a brand new. engine it's got a brand new transmission. does she take care of her own groceries.

or do you buy her food too hi uh. no I buy the food uh I got food stamps. for one and then I put 200 towards food. on top of that so yeah. I mean she right now she's just got. she I don't want you to qualify for food. stamps I want you to make this 18-hour. job working as many hours as you can to. the point where you don't qualify that's. what I'm shooting for. um yeah for sure I mean I I. you know food stamps are nice but yeah.

if I can make the money and giving you. 500 a month for groceries for you both. for you both if she's able to pitch into. that that's awesome if not they're still. taking care of your mom so yeah and then. toilet paper keeping things around the. house making sure everyone has. toothpaste and everything like that 100. bucks 150 bucks 150 bucks for both of. you yeah about 150 yeah. does she pay for internet gas electric. all that. um. she pays for the internet uh and gas and.

utilities yes uh that runs her around. 250 bucks but she pays for it. I'm not worrying about it is there. anything else that you have to pay for. on a minimum monthly basis you have gas. we have car insurance we have food we. have cell phone I gotta pay myself yeah. what's that 30 bucks that's it good. what do you have like mint or something. uh it's Spectrum oh welcome. um but yeah that's it as far as my pay. pay goes 400 for rent 200 for groceries.

and yeah thirty dollars for. cell phone more or less. and uh okay so in order for you to. survive. 870 dollars. which you should have no issue bringing. in 18 bucks an hour you're going to work. 40 hours a week it's not even I mean. 8.75 I make that. in about three weeks at my current job. you're not taking a single day off and I.

think or you're not taking any days off. of your normal 40 hours a week you're. not going to do anything no vacations. nothing you'll bring in an average of. 3120 a month post taxes so call it 2750. because you're not going to be in a. crazy tax Breaker by any means and then. with different whatevers so you should. more than easily be able to pay this off. yeah the first month when you're. starting this job when does it start. uh it starts uh next Wednesday good and.

do you know how many hours you're. getting. uh not at the moment I mean uh request. is how many hours as possible yeah. that's all I'm gonna say and then any. hours that you're not working there that. you should be. back at the gas station uh yeah and. working there wage is not as good maybe. we go find another one or maybe we're. working somewhere else we're being a. cook again breakfast lunch at uh a diner. something like that a downtown area and. work in that evening Chef you're working. working working. take advantage of that fifth year old.

age you're not you're not old yet take. advantage of the energy you have. so I mean you should have an extra like. 2 000 hours a month let's just call it. well you should there's no reason. there's no reason why you shouldn't what. I need you to do is set that 2 000 hours. aside boom in a high yield savings. account you can use sofa that's what I. use. it's it's linked in the description. stuff is there it's a it's a affiliate. uh thing but I personally use them and. that's the only reason I did it and you. at least keep up with inflation on that.

or just put it anywhere I don't even. care I just want you to have that set. aside you need two thousand dollars set. aside just in case anything bad happens. right okay so two thousand dollars is. set aside then what you do from there in. month number two you have two thousand. dollars okay a lot of these things. see what's not in questions log into. First Premier Aspire Capital One and the. other Capital One see if they are still. active if they are still active you're. paying. the 252 dollar Capital One off. immediately you're also paying off the.

First Premiere immediately you have 500. left and if the Aspire One is still open. you are throwing 500 towards it and then. month number three you're fully painted. off with your two thousand dollars. because you're not spending a single. Cent a single Cent that is not in the. five items if we budget it because your. life matters and you are uh you've given. up the first three best Decades of. compound growth in your life. we can't do that anymore we need you to. start buckling down so.

at that point. month we finish month number three we. have two thousand dollars saved up on. the side small Capital One is gone. Aspire is gone First Premiere is gone if. they are still open if they're in. collections we'll have that conversation. in a second then Capital One you're. paying that off in another two and a. half months the big Capital One paying. that off in two and a half months with. two thousand dollars a month. two and a half months and it's gone and. it's lovely so we're five and a half. months in and then what's in collections.

you have two thousand dollars honestly. 585 is in collections 457 it's gonna it. takes a long time to negotiate and try. to get a good deal you have an extra two. thousand dollars it's gonna cost a. thousand dollars wipe them both out you. just pay them in that situation that's. for the collection fee the two that are. in collections yeah and all of a sudden. that's you have no debt you have no debt. probably for the first time in forever. for you you have no debt probably after. about it's incredible. it's incredible and then you never open.

another credit card ever again if you do. open a card you it's more use more. towards college students there's. Alternatives but I work with fizz. they're a good one where it acts like a. debit card it is a credit card because. it helps build your credit you immediate. the moment you swipe and pay for it it. pays it off in that second. via your checking account it pulls from. it so it acts as a debit card but it is. still building credit that's if you even. go down that road I don't even know if I. want you to go down that road for you. specifically for most people yeah but I.

think you just use your debit card to. follow what do you do at that point or I. gotta build Chris I gotta build some. credit eventually right so well and. that'll help and paying off this credit. will help will help yeah but at that. point what I need you to do is minimum. save up ten thousand dollars so we're. five and a half months in no we're six. and a half months in now so we're six. months in actually because we paid out. the questions okay. so then with your extra 2 000 hours a. month.

I need you for the next four months at. that point. setting all that money aside in a. high-yield savings account or just. anywhere honestly in your situation. and boom we have ten thousand dollars of. that because when that car eventually. breaks which it will I don't want you. putting more money into that car because. it's not worth it it's not worth it. you're gonna get yourself a five to ten. thousand dollar car in cash you're gonna. take it to a mechanic you're gonna get a. seal of approval to make sure hey yeah. this is one gonna be safe for you. because that's what's most important too. it's gonna be reliable and so uh you're.

actually getting an okay deal for it. okay so that's critical from there man. your needs are so low that still of your. extra two thousand dollars a month I'm. gonna give you like 500 for fun I need. you to stash away minimum one thousand. five hundred dollars in return in to. invest into different things and you can. sit you can talk on an advisor with. Fidelity I work I I don't work with. Federal I wish I worked for with. Fidelity because I use them but you can. talk with any Financial advisory through.

those different Brokers and just I'm not. gonna have to invest in all I'm saying. I'm in low-cost index funds okay well. whenever you do again in the future. you're not going to or retirement time. yeah but even still you're you're. playing catch up aggressively and that's. why it's a thousand five hundred dollars. a month and even then I'm still nervous. for retirement what's your problem do. you have any kids no you plan on having. kids no I'm 50 years old I don't think. that's in the game dude Robert De Niro. just had kids and he's like 90. yeah so. uh but either way like I'm not here to.

judge so it's always good to ask really. I'm not here to judge your kid plan. thing I'm certainly judging the overall. financial situation not judging in like. a negative way but I'm trying to get it. to a point where you're better and. because other people out there are going. to relate to your situation and then. they're going to be able to improve. their lives so that's the whole purpose. it's not judging looking down upon you. by any means it's not even close to that. I think you deserve to live an. incredible life because you're a human. on this planet and I want you to live. there and so though I'm a little more.

critical and I go a little intense it's. because I want you to have the remaining. Decades of your life be fantastic and. what we just talked about here what did. we say in total will be like almost it'd. be three-fourths of a year for you to be. debt free and have a fully funded. emergency fund yeah. oh my goodness I don't care if you're. not having the most fun for the next. three-fourths of a year for the rest of. your life to be incredible maybe I'm for. that I don't know but I care about the. rest of your life.

I hope I care I hope you care about the. rest of your life more than I do so. that's. that's what you're doing there from. there I would do a thousand five hundred. dollars a month for retirement in which. is why I asked the kids question in. terms of leaving any kind of Legacy or. anything like that once you get to a. certain point where you want to retire. whether that be like it's probably gonna. be like 70 in your case and you're doing. a thousand dollars a month into a good. investment of which I will not suggest. what that is just saying I do low cost.

index ones because I enjoy them but. either way uh. [Music]. call it 70 you're probably going to. calculate okay what does it take to make. it to 100 or something like that how you. know I I'm dying time. I mean you know okay well you know your. life pick pick pick a pick an age that. you feel comfortable with red. withdrawing a certain amount on a. monthly basis to make it to by the time. a certain age is happening it goes to.

zero so obviously preferably a few years. longer than you might actually live just. so you don't get to a point where all of. a sudden you're 95 and you're like I. don't have money like we don't want that. so that's what you would do in this. situation what matters most man. and this is where I'm nervous we've been. doing all this we've been in the. thousands of different jobs even though. yes that was simple that happened with. getting fired from those two positions. like that makes me angry but even still. we've been in like a thousand different. jobs we haven't fully utilized a degree.

we've gone into debt a lot of it on both. and stuff like that. literally all that matters from here do. you buckle down do you start taking care. of your own do you make the difference. in your life because it's only you who. can from now yeah that's your choice I. hope you do. I laid out this plan and I'm happy to go. into more detail once we finish. recording and answer any questions you. have but that's the plan I would follow. if I were sitting over there and that's.

the only way I answer questions is what. would I do knowing how dire the. situation is and that's exactly what I. would do yeah well I you know I did I. didn't even uh. know what my credit score was. until now so yeah. um. do you have any questions. a month. you should if you work 40 hours a week. with that with that. 18-hour job and I would go work 60 hours.

a week go work as many hours as you can. then work somewhere else because you. don't have to take care of your mom. anymore because they're really the. caregiver I know we might have to ramp. up to that I know that's not an. overnight thing well once that situation. starts it's a ticking it's a ticking. clock where you should be out of this. debt. two thousand dollars a month and have a. fully funded emergency fund within. three-fourths of a year maybe a little. longer let's call it a year. okay to give a little bit of flexibility. for life I'm looking for flexibility. yeah well don't don't if you start going.

looking for flexibility no that's making. me nervous yeah I'm I'm hoping to get. there that's what I'm saying I mean do. it do it for yourself man imagine 51. fully funded emergency fund have you. ever had a fully funded emergency fund. no. first time in your life 51 and no debt. fully funded emergency fund and you're. contributing to retirement dude what a. win what an absolute win it's incredible. do it but it's your choice.

yeah buddy what I want to do is I I want. to follow up a year from today I want to. follow up a year from today and I want. to see where you are at. please make us all proud please make us. all proud. but yeah when um I think you're right. once I get this debt cleared then I'm. not a credit card person no. no not at all. but that's okay do you have any final. thoughts. no no. well thank you for being here for. putting your situation on display.

because there are people out there who. are going to relate to your situation or. potentially are headed down the path of. ending up in your position and you are. helping them you are helping them though. so thank you for being here and make. sure that everything is positive and. love in the comments because this dude's. a bad put in a situation on display so. thank you. no problem for Clark that was a pretty. devastating conversation I'm really. really scared for his future. that's I mean this has to be like the.

one of the worst Financial situations. we've seen especially it's been mostly. for his age as the dude can be able to. retire and stop making excuses I hope. the buckles down I really do will do an. update if he's willing to and. I hope this helped him and I hope it. helped people out there as well who. relate to his situation for his hammer. Financial score spending within a budget. zero identity doesn't have money it. needs to be paying off the debt the debt. it's in collections there's a lot of. collections zero ten retirement there's. nothing so out of 10 emerges fund 25 no. it's a zero out of ten real estate he. might inherit the house but with where.

he is in life I'd want him to own our. personal Residence at this point zero. out of ten his camera Financial score is. zero out of ten and it cannot be higher. than that at this moment check out all. the resources Linked In the description. below they are the resources that I. either use or would use in specific. instances they are paid affiliate links. like Sofi for their high yield savings. that I personally use and depositing. five dollars and eight coins and you get. a free five dollars and there's other. things as well don't forget to follow my. Instagram and Twitter thanks.